US Q4 growth forecast revised upward.

Foreks reports that the U.S. economy showed growth above initial forecasts in the last three months of 2024, supported by an end-of-year increase in consumer spending. The GDP growth rate for the fourth quarter rose from an annual 2.3% to 2.4%.

The Department of Commerce noted that the growth of gross domestic product, which reflects the production of goods and services in the country, slowed from 3.1% in July-September 2024. Overall, the U.S. economy grew by 2.8% for the entire year of 2024.